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> tax cuts for the rich You mean those who actually pay taxes? The top 10% pays 70% of all federal tax. The most current tax cuts also lowered the brackets in
by newfriend 6y ago
> tax cuts for the rich
You mean those who actually pay taxes? The top 10% pays 70% of all federal tax.
The most current tax cuts also lowered the brackets in almost all cases, as well as raising the standard deduction. These changes reduced taxes for almost every American.
> In approximately 61 days, conservatives in the US will be in an absolute panic about the financial state of the country.
As opposed to the last 4 years where democrats in the US were in an absolute panic about everything.
- legolas2412 6y agoThe truth is that somehow we are conditioned to believe that only income deserves taxation. We have under-taxed wealth so much that there needs to be some equalization.
- jessaustin 6y agoThat was a great trick that the wealthy pulled, convincing us to jealously despise well-paid workers.
- stjohnswarts 6y agoIt comes in the form of a wealth tax. Instead of sitting on their cash/capital piles they have to do something with it or lose it.
- stjohnswarts 6y agoBut they own 95% of the wealth so shouldn't they be paying 95% of the federal taxes?
- newfriend 6y agoIt's actually roughly 70% for wealth as well, so I guess it's fair eh? > Deutsche Bank’s Torsten Sløk says that the distribution of household wealth in America has become even more disproportionate over the past decade, with the richest 10% of U.S. households representing 70% of all U.S. wealth in 2018, compared with 60% in 1989, according to a recent study by researchers at the Federal Reserve. [1] [1] https://www.federalreserve.gov/econres/feds/files/2019017pap.pdf https://www.federalreserve.gov/econres/feds/files/2019017pap...